Capstone, a tech-enabled building products distribution platform, extended its credit facilities with both Beacon Bank (formerly Berkshire Bank) and Stream Finance on existing terms.
Beacon Bank has extended Capstone’s $11.5 million revolving credit facility through Dec. 31, 2026, and Stream Finance has extended the maturity of its mezzanine credit facility through Sept. 30, 2028. Together, the extensions eliminate significant near-term debt maturities and strengthen the company’s financial flexibility as it executes its growth and margin expansion strategy.
“Extending both facilities keeps our liquidity runway strong as we continue executing our growth strategy and work toward sustained profitability,” Matthew Lipman, CEO, said. “We remain very confident in our financial health and capital structure as Capstone scales toward positive Adjusted EBITDA in the second quarter.”
Key Highlights
- $11.5 Million Facility Extended Through Dec. 31, 2026: The extension removes near-term refinancing pressure while preserving the facility’s existing working-capital terms.
- Mezzanine Facility Extended Through Sept. 30, 2028: The extension further strengthens Capstone’s liquidity runway and aligns its debt maturity profile with the company’s operating plan and growth timeline.
- Lender Support: The extensions underscore the confidence of both lending partners in Capstone’s financial position, operating performance and long-term growth trajectory.
- Balance Sheet Progress: The extensions build on recent capital-structure initiatives, including the conversion of approximately 72% of original convertible note principal to equity, reducing debt outstanding and strengthening the company’s financial position.
- Operating Momentum: The company’s lending facilities now extend through the period in which Capstone expects positive adjusted EBITDA (beginning Q2/26) and continued progress toward its 26% FY/26 gross margin target, supported by order volume at a two-year high.
“With the facilities extended and our first-quarter execution on the board, our focus stays on converting record order volume into revenue and margin,” Lipman added. “We continue to see strong activity across our markets and look forward to updating shareholders on our progress in the months ahead.”
